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302 Manage these Key
business essentials
| Term | Definition |
|---|---|
| conceptual skills | the ability to see the "big picture" and how things will work together. |
| controlling | the management function that monitors the work effort. |
| directing | the management function to providing guidance to workers and work projects. |
| executive management | to level management. |
| financial resources | all the sources of money available to a business. |
| first-line management | supervisors who work directly with the employees who carry out the business's routine work. |
| goals | objectives |
| human resources | people who work to produce goods or services |
| information | knowledge, facts, or data. |
| interpersonal skills | he ability to communicate interact, and build relationships with others. |
| management | the process of coordinating resources to accomplish an organization's goals. |
| management function | groups of activities related ton to management (i.e., planning, organizing, staffing, directing, and controlling). |
| manager | individual whose job involves carrying out management functions. |
| material resources | equipment and supplies used by business in their operation. |
| mid-level management | managers who report to top-level management and who have supervisors who report to them. |
| middle management | mid-level management. |
| organizing | he management function of setting up the way the business's work will be done. |
| planning | the management function of deciding what will be done and how it will be accomplished. |
| resources | items that can be used o produce goods and services. |
| staffing | the management function of finding workers for the business. |
| strategic planning | long-range planning (three to five years) for the company as a whole. |
| strategies | plans of action for achieving goals and objectives. |
| supervisory management | first-line management. |
| tactical planning | short-range planning (one year) o specific actions the business will take. |
| technical skills | ability to understand the specialized aspect of jobs. |
| top-level management | all managers who are responsible for the operation of the company on a business unit. |